ART MEETS IMPACT
We see financial services as more than just transactions and numbers—they’re about community, growth, and connection. That’s why we incorporated the stunning artwork from a mural we commissioned last year into this report’s design.
With support from Visa’s community improvement funds, we partnered with The Broad Strokes Project of Longview to commission a mural on the building next to our Main location at 822 Commerce Ave in Longview. Denver-based artist John Hastings created Season Stir, a mural celebrating native Washington flora, wildlife, and the dynamic beauty of Pacific Northwest weather.
By weaving this visual masterpiece into our report, we’re celebrating not only our achievements as a credit union but also the creativity and culture that make our communities unique. Just as our financial services create meaningful impact, great art tells a powerful story—and we’re proud to share ours with you.
ACCOLADES
Jack Henry &
Associates
Cobalt Barrier Breaker Award winner
Tillamook Headlight Herald’s
Readers’ Choice Awards:
Best Financial Institution
DepositAccounts
DepositAccounts.com
Grade A Health & Stability rating
The Daily News’ Best of Lower Columbia Awards:
- Best Bank or Credit Union
- Best Employer (Over 50 Employees)
- Best Customer Service
- Best Mortgage Company
- Best Financial Advisor: Breta Grumbois
Best of Southwest Washington
- Best Credit Union
- Best Place to Work
- Best Community Partner
- Best Financial Advisor: Breta Grumbois
COMMUNITY IMPACT
DONATIONS & SPONSORSHIPS
$480,620
donated
284
donations
165
organizations
$29,975
donated
FINANCIAL EDUCATION
3,754
people reached through financial education efforts
2,537
hours of financial education provided to children and adults
17
in-person financial education presentations
FIBRE FAMILY VOLUNTEERISM
236volunteers |
1,856organizations |
957volunteers shifts |
79organizations |
90
community events we ran or helped host with partner organizations
OVERALL CREDIT UNION ECONOMIC IMPACT
WASHINGTON
5.5 million credit union members
$4 billion contribution to gross domestic product
$759 million in direct member benefits
$24.1 billion in home loans
$382 million deposited in youth savings accounts
12,100 family wage credit union jobs
78,000 hours of community service by credit union employees
3,000 non-profits supported
OREGON
2.3 million credit union members
$1.9 billion contribution to gross domestic product
$229 million in direct member benefits
$9.5 billion in home loans
$58 million deposited in youth savings accounts
6,500 family wage credit union jobs
55,000 hours of community service by credit union employees
1,200 non-profits supported
OTHER HIGHLIGHTS
Credit Unions for Kids &
Doernbecher Days
Oversaw $62,183 in donations for Doernbecher Children’s Hospital through credit union, employee, and member donations. Total since 2010: $614,597.
Cash Club Cares Program
We donate $5 to animal shelters for each new youth account opened, up to $5,000 annual pledge. Total since 2017: $33,321.
Communities First Program
Continued our pledge to disburse $46,500 annually to seven community colleges and thirteen hospitals across our service areas. Total since 2018: $238,000.
Member Scholarships
Awarded seven scholarships totaling $11,000. Total since 1995: $247,500.
Grant Funds
$240,000 in grants to 15 community partners through Visa partnership and Member Impact Fund from Federal Home Loan Bank (FHLB) of Des Moines.
Christmas Tags
Partnered with foster care agencies in five counties to help provide gifts for children and teens. We raised $3,951 to purchase gifts and filled 210 tags for every foster child in Cowlitz and Wahkiakum counties.
Special Olympics
Coordinated a give-back event at our all-staff training day to assemble 350 goodie bags, each including a handmade inspirational card, for local Washington and Oregon Special Olympics athletes.
Department Donations
$16,688 in donations from our departments to community organizations.
Advocacy
$7,904 for America’s Credit Unions PAC, which provides bipartisan financial support to candidates and legislation that support credit union goals.
In 2024, Fibre Federal Credit Union and TLC experienced strong financial growth across multiple areas. Assets, membership, loans, deposits, and capital all increased, reflecting the trust and confidence our members place in us. However, challenges remain, as member loan delinquencies rose. Our Member Solutions team is dedicated to supporting our members as they navigate the growing debt challenges that many Americans are experiencing.
We entered our second year of an inverted rate environment, where long-term U.S. Treasury yields remain lower than short-term rates. The result: our short-term share certificate rates continue to be higher than longterm rates. Now more than ever, it’s worth savers’ time to compare rates across a range of terms.
A major milestone of 2024 was our purchase of the historic Longview Daily News building at 770 11th Ave. This 45,702-square-foot property on three acres will become a state-of the-art Member Digital Experience Center. This project underscores our commitment to the local community while enhancing our multi-channel service offerings.
This new facility will centralize our Contact Center staff, who currently operate from multiple locations. It will house our Virtual Representatives supporting our 28 Interactive Teller Machines (ITMs) across 11 counties, as well as phone, chat, and video services. Renovations began in 2024, with completion expected in 2025.
In partnership with Visa, we distributed $210,000 in grants to community organizations. Many recipients were hospitals in our Communities First Program, ensuring broad community benefits. Additionally, we secured a Federal Home Loan Bank of Des Moines 3:1 match grant, turning $10,000 in Visa grant funds into a $40,000 gift for the Emergency Support Shelter in Longview.
Fibre Federal Credit Union was honored with the Jack Henry Barrier Breaker Cobalt Award, recognizing our commitment to financial inclusion, thanks to our optimization of our Money Builder Share Certificate program. The award came with a $10,000 donation to Doernbecher Children’s Hospital.
To support financial wellness, we launched innovative products, including Flash Cash, an instant-approval, no-credit-check loan, and Drive4Less, a flexible vehicle financing option. We also introduced an online vehicle search tool and video appointments for mortgage and home equity loans.
Expanding digital support, we welcomed Fern, our virtual financial coach, in partnership with GreenPath Financial Wellness. Alongside Timber, our 24/7 chatbot, Fern provides members with guidance on debt management, credit building, and savings.
With a year of progress and innovation behind us, we remain dedicated to empowering our members and strengthening our communities. We look forward to another year of growth and service in 2025.
Christopher Bradberry
President/CEO
Jerry Howell
Board Chair
Financial Statements
| Dec 31, 2023 | Dec 31, 2024 | |
|
Gross Loans |
1,158,601,338 |
1,203,447,034 |
|
Allowance for Loan Loss |
(10,918,123) |
(12,956,779) |
| Net Loans | 1,147,683,215 | 1,190,490,255 |
|
Cash & Equivalents |
151,002,638 |
226,704,226 |
|
Investments |
221,175,365 |
160,100,783 |
| Cash and Investments | 372,178,003 | 386,805,008 |
|
Foreclosures & Repossessions |
1,092,173 |
1,602,631 |
|
Fixed Assets |
44,343,295 |
45,663,964 |
|
Other Assets |
67,165,031 |
71,260,993 |
| Total Assets | $1,632,461,718 | $1,695,822,851 |
| Total Liabilities | 24,054,196 | 21,984,565 |
|
Regular Shares |
606,704,247 |
593,172,709 |
|
Checking Shares |
376,854,532 |
385,768,141 |
|
Money Market Shares |
146,405,104 |
126,106,841 |
|
Certificate Shares |
282,025,763 |
356,244,554 |
| Shares | 1,411,989,646 | 1,461,292,245 |
|
Undivided Earnings |
205,590,231 |
217,923,926 |
|
Other Comprehensive Income |
(9,172,356) |
(5,377,885) |
| Equity | 196,417,875 | 212,546,041 |
| Total Liabilities & Equity | $1,632,461,718 | $1,695,822,851 |
| 2023 | 2024 | |
|
Total Interest Income |
65,810,015 |
76,955,793 |
|
Total Interest Expense |
14,199,149 |
20,321,476 |
| Net Interest Income | 51,610,866 | 56,634,317 |
|
Fee Income |
6,340,322 |
6,362,601 |
|
Other Income |
4,524,799 |
4,669,395 |
|
Credit Card Program |
2,189,038 |
2,244,447 |
|
Debit Card Program |
8,854,140 |
9,399,936 |
|
Loan Origination Income |
575,059 |
781,560 |
|
Non Operating Gain/Loss |
3,922,890 |
298,080 |
| Non Interest Income | 26,406,248 | 23,756,019 |
|
Compensation & Benefits |
33,107,509 |
36,397,046 |
|
Travel & Conference |
770,014 |
820,400 |
|
Office Occupancy |
2,834,949 |
2,831,614 |
|
Office Operations |
5,589,328 |
5,655,828 |
|
Education & Promotion |
1,000,085 |
1,389,253 |
|
Loan Servicing |
1,871,930 |
1,914,250 |
|
Professional Services |
7,017,419 |
7,769,035 |
|
Operating Fee |
271,383 |
256,299 |
|
Misc Operating |
3,033,621 |
3,183,253 |
| Non Interest Expense | 55,496,237 | 60,216,979 |
|
Acquisition Related |
(181,161) |
(181,161) |
|
NCUSIF Refund |
27,999 |
0 |
|
Provisions for Loan Losses |
(7,266,396) |
(7,658,503) |
| Net Income | $15,101,319 | $12,333,695 |
Your Supervisory Committee is comprised of five volunteers: Jeff Skeie, David Thelin, Greg Kelly, Alison Peters, and Gabe Negrete. The 2024
Supervisory Committee was also joined and assisted by Supervisory Committee Associate Members Jamie Foster and Danielle Wheeler. The Supervisory Committee has the responsibility to oversee and verify that the Credit Union has developed and maintains an internal control framework that provides reasonable assurance to the reliability and integrity of the financial statements and compliance with laws and regulations.
Your Supervisory Committee fulfills this responsibility in two ways. We meet regularly with the Credit Union’s Vice President of Internal Audit, Luci Sherard, who assists the Committee in verifying compliance within our internal control framework. We also engage an external audit firm, Moss-Adams, to audit the financial statements and the operational controls surrounding those financial statements in accordance with generally accepted auditing principles.
Supervisory Committee members attend regular monthly Supervisory Committee meetings, as well as monthly meetings of the Board of Directors. At these meetings we review the work of the Internal Auditor, the external auditor, and management to ensure that the Supervisory Committee’s responsibilities are properly discharged.
Based on our audits and the reports of other experts, the Supervisory Committee is satisfied that the records of Fibre Federal and TLC are accurately maintained, and the Credit Union is in compliance with applicable laws and regulations. We thank the Credit Union management and staff for their diligent work that ensures such a well-run organization.
Jeff Skeie,
Supervisory Committee Chair
BOARD OF DIRECTORS
Jerry Howell, Chair
Jim Duscha, 1st Vice Chair
Kelli Harding, 2nd Vice Chair
Ashley Lachney, Secretary
Steve Mealy, Director
Jack Courtney, Director
Greg Berg, Director
Julie Palmer, Director
Bart Finnel, Director
SUPERVISORY COMMITTEE
Jeff Skeie, Chair
David Thelin, Secretary
Greg Kelly, Member
Alison Peters, Member
Gabe Negrete, Member
Jamie Foster, Associate Member
Danielle Wheeler, Associate Member
EXECUTIVE MANAGEMENT TEAM
Christopher Bradberry, President/Chief Executive Officer
Shelly Buller, EVP/Chief Operations Officer
Ryan Sullivan, EVP/Chief Delivery and Revenue Officer
Angie Shipman, SVP/Chief Experience Officer
David Keegan, SVP/Chief Information Officer
Meghan Staup, SVP/Chief Financial Officer
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